Obama Administration’s Actions in Auto Bailout Added to Unemployment, Audit Says

Discussion in 'News / Current Events' started by Revmitchell, Jul 21, 2010.

  1. Revmitchell

    Revmitchell
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    The Obama administration’s policies in steering the auto bailout drove unemployment up, according to an audit by the Office of Special Inspector General for the Troubled Assets Relief Program (SIGTARP).

    “At a time when the country was experiencing the worst economic downturn in generations and the government was asking its taxpayers to support a $787 billion stimulus package designed primarily to preserve jobs, Treasury made a series of decisions that may have substantially contributed to the accelerated shuttering of thousands of small businesses and thereby potentially adding tens of thousands of workers to the already lengthy unemployment rolls – all based on a theory and without sufficient consideration of the decisions’ broader economic impact,” the audit by SIGTARP Neil Barofsky stated.

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